2014-05-07 16:00Financial Performance - The company reported a net profit of negative value for the year 2013, marking two consecutive years of losses, which may lead to a delisting risk warning after the annual report disclosure[13]. - The company reported a net loss attributable to shareholders of RMB 1,454,217 thousand in 2013, compared to a loss of RMB 361,367 thousand in 2012[24]. - The basic and diluted earnings per share for 2013 were RMB -0.242, compared to RMB -0.060 in 2012[25]. - The weighted average return on equity decreased to -18.59% in 2013 from -4.11% in 2012, a decline of 14.48 percentage points[25]. - The company reported a net cash flow from operating activities of RMB -1,073,285 thousand in 2013, compared to RMB -967,719 thousand in 2012[24]. - The company's equity attributable to shareholders decreased by 17.0% to RMB 7,063,464 thousand in 2013 from RMB 8,513,483 thousand in 2012[25]. - The company's total liabilities increased by 36.5% to RMB 3,565,840 thousand in 2013 from RMB 2,624,721 thousand in 2012[25]. - The company's asset-liability ratio increased to 33.24% in 2013 from 23.24% in 2012, an increase of 10 percentage points[25]. - The company reported a net loss of RMB 1,454,217 thousand for 2013, leading to a retained loss of RMB 252,136 thousand at year-end[94]. - The company's cost of sales rose by 7.3% to RMB 18,099,885 thousand, leading to a gross loss of RMB 422,714 thousand compared to a gross profit of RMB 119,245 thousand in 2012[57]. Production Capacity and Operations - As of the end of 2013, the company had a polyester polymerization capacity of 2.18 million tons per year, making it the eighth largest polyester producer in the world[15]. - The company has a production capacity of 1 million tons per year for PTA oxidation and refining, along with 455,000 tons per year for bottle-grade chip solid-state polymerization[16]. - The total polyester production in 2013 was 2,410,760 tons, a 9.7% increase from 2,197,022 tons in 2012, with a capacity utilization rate of 88.8%[37]. - In 2013, the company's polyester product output reached 2,410,760 tons, an increase of 9.7% from 2,197,022 tons in 2012, with a capacity utilization rate of 88.8%[52]. - The company aims to produce 257,100 tons of polyester products in 2014, including 102,900 tons of PTA and 5,700 tons of 1,4-butanediol series products[45]. - The company plans to sell 2,101,000 tons of polyester products and achieve a sales-to-production ratio of 100% in 2014[44]. Research and Development - The company completed the development of 12 new products and industrialized 13 new products in 2013, with 27 patent applications filed and 14 patents granted[39]. - The company's R&D expenditure in 2013 was RMB 37,258 thousand, a decrease of 23.0% from RMB 48,406 thousand in 2012, representing 0.2% of operating revenue[88]. - The company plans to develop 17 new products in 2014, with 15 of them to be industrialized, and aims to produce 642,000 tons of differentiated fibers[47]. Market and Sales - The average selling price of polyester products decreased by 5.1% in 2013, from RMB 9,350 per ton to RMB 8,872 per ton[55]. - Revenue from mainland China increased by 5.7% to RMB 16,666,460 thousand, while revenue from Hong Kong, Macau, Taiwan, and overseas decreased by 5.0% to RMB 610,342 thousand[91]. - The company’s products have achieved ISO9001 and ISO14001 international standard certifications, indicating a leading position in product quality within the industry[16]. Strategic Initiatives - The company plans to reduce overall energy consumption by 3.0% in 2014 and control industrial water intake within 24.1 million tons[48]. - The company will focus on safety and environmental protection, ensuring stable production and minimizing operational disruptions[45]. - The company aims to enhance product quality and service levels to achieve higher customer satisfaction[44]. - The company plans to optimize the production of high-value-added products and improve the structure of its product offerings[49]. - The company will continue to strengthen technological innovation to drive transformation and upgrade its product lines[46]. Governance and Compliance - The company held its annual shareholder meetings and other relevant meetings in 2013, ensuring compliance with governance standards[124][125]. - The company has adhered to regulatory requirements and has not found any violations regarding related party transactions or insider trading during the reporting period[193]. - The company will strengthen the decision-making process for related party transactions to ensure fairness and compliance[193]. Shareholder Information - The total number of shares increased from 4 billion to 6 billion, representing a 50% increase in share capital[148]. - The largest shareholder, China Petroleum, holds 2,415,000,000 shares, representing 40.25% of the total shares[151]. - The number of shareholders increased from 43,724 to 46,698 during the reporting period[150]. - The company’s shareholding structure has changed due to a share reform plan, affecting the distribution of shares among shareholders[148]. Employee Information - The company had a total of 8,010 employees as of December 31, 2013, with 2,695 retirees[187]. - The educational background of employees includes 77 with master's degrees, 1,043 with bachelor's degrees, and 5,769 with high school or lower education[188]. - The company has 6,234 production personnel, 118 sales personnel, and 599 technical and research personnel[187].